By Alex Gutman
In the past, online businesses reacted to customer behavior after they moved along the path to purchase. With the release of advanced analytical tools, businesses are now empowered to not only act in a proactive fashion, but they are able to shape customer journeys on the way to purchase in a more active way. Just because the technology is available, doesn’t mean that businesses are using it sufficiently enough. However, those that do are able to shape customer decisions and negate any buying objections in optimizing the path to purchase.
When optimizing the customer journey, which will shape their decisions, it is most effective to get a complete picture to understand the customer’s path from beginning to end. When I talk about the entire customer journey, I’m talking about across the entire spectrum of sources which includes all devices, sessions and touchpoints. This can be quite a complex endeavor, given the plethora of touchpoints and the various channels that are an intrinsic part of that journey.
In order to get this all-encompassing view of the customer journey, you must conduct time-series path analysis. It is imperative to unify all this user event data emanating from multiple platforms such as Marketing (Campaign, email, etc..), CRM, financial and Social Media.
When joined and unified in one place, the highly varied data, representing all customer actions is very valuable when joined together and analyzed. These user actions include, clicking on a registration form, registering, visiting a catalog, viewing specific items, etc…
This new way of analyzing each customer’s action at the granular level in understanding their behavior opens up a world of opportunities for marketers to take this understanding and make wiser, better informed business decisions.
Let’s look at a few examples of how businesses achieve this:
From the First Ad Click to Higher Retention and Conversion
Understanding player behavior is paramount in the world of mobile gaming. Knowing who clicked and installed the game is just the first step of many to understand gamer behavior. Gaming platforms need to have a deep understanding of player behavior and retention to get a leg up on the competition. It really is the primary way to gain an edge in this fiercely competitive industry.
Utilizing advanced analytics, mobile game publishers are empowered to quickly determine which marketing campaigns realized the highest ROI, which ones had the best retention rates and which paying players had the highest conversions. Just understanding these alone shows how essential it is for an online gaming business’ decision-making process. Integrating and unifying all this data from the various sources in one place gives gaming app publishers a holistic view of player behavior.
Straight from the Source(s)
Appsflyer, a company that measure mobile app attribution is an example of a source that releases campaign data. From this one source alone, businesses can understand which signup channels drove the most mobile revenue. Going further, mobile app publishers can conduct cohort analysis in analyzing the retention rate of groups Go to the full article.
Source:: Business 2 Community